Corporate direct financing up in September on increased debt sales

Corporate direct financing rose in September, driven by a sharp rise in bond sales, data showed Tuesday.

Local companies raised a combined 28.6 trillion won ($21.6 billion) last month by selling stocks and bonds, up 12.2 trillion won, or 75 percent, from the previous month, according to the Financial Supervisory Service (FSS).

Stock sales totaled 385 billion won in September, down 15.3 percent, while corporate bond sales rose 78 percent to 12.3 trillion won over the same period.

The value of outstanding corporate bonds stood at 777.1 trillion won as of the end of September, a 8.27 trillion won increase, or 1.1 percent, from a month ago, the data showed.

Yonhap